CMS accreditation allows Cognixion Medicare billing privileges as a supplier of durable medical equipment, enabling financial accessibility for its forthcoming technologies.
Medicare & Medicaid provides financial support and access to quality healthcare to over 65 million Americans.
Over 8 million Americans with Disabilities rely on Medicare or Medicaid.
Cognixion recently received FDA Breakthrough Device Designation which accelerates its interactions with the FDA towards regulatory clearance.
Cognixion aims to become the first FDA cleared Brain Computer Interface with Augmented Reality device allowing fully paralyzed or locked-in patients to communicate using visual mental attention.
Cognixion ONE is the first and only wireless brain computer interface, integrated with augmented reality in one system.
On the heels of announcing FDA Breakthrough Device designation, Cognixion®, a leading developer of noninvasive Brain-Computer Interface (BCI) and Augmented Reality (AR) technology, announced today that it has been accredited by the Centers for Medicare & Medicaid Services (CMS) as a durable medical equipment supplier (DME). This accreditation paves the way for insurance reimbursement via Medicare, Medicaid and Private Insurance for durable medical equipment, prosthetics, orthotics, and supplies (DMEPOS).
The company’s flagship product, Cognixion ONE, is a revolutionary assisted reality device — the bionic combination of Context-Aware AI Language Models, Augmented Reality and Assistive Technology Access Methods — designed to help people with severe motor impairments communicate and interact more effectively and independently with the world around them. The device utilizes electroencephalogram (EEG) technology to provide a noninvasive brain-computer interface (BCI) enabling patients with advanced disease progression to communicate their responses with their thoughts and mental attention in a wearable, augmented reality headset.
"CMS accreditation is another important milestone in our path to bringing Cognixion ONE to market and making it available to those most in need by way of insurance reimbursement." said Andreas Forsland, CEO and Founder of Cognixion. "Since day one, our company has been focused on accessibility and CMS accreditation will go a long way in making Cognixion ONE accessible to those that are unable to pay out of pocket."
To receive DMEPOS accreditation, Cognixion met rigorous quality standards set forth by CMS, addressing factors such as product quality, business integrity, accountability, and performance management. With this accreditation in place, the company will be ready and able to accept insurance reimbursement immediately following FDA clearance and product launch.
To learn more contact our media relations {meaghan@cognixion.com}, investor relations {chris@cognixion.com} or head to https://www.cognixion.com/press-kit-cognixion-one
About Cognixion®
Cognixion is a leader in brain-computer, augmented reality, artificial intelligence, and natural user interface technology. The company is dedicated to improving the lives of individuals with severe motor impairments by providing cutting-edge patented technology that allows them to independently communicate and interact with the world around them. The Cognixion ONE™ device is the company's flagship product, and it has already received significant recognition for its design and potential to transform the lives of individuals with severe motor impairments.
SOURCE: Cognixion